Rothschild wins inflated Castorama fee

By

Janine Brewis

June 10, 2002 5:00 p.m. GMT

Rothschild's €7.5m ($7.1m) fairness opinion fee for Kingfisher's hostile takeover bid of Castorama is much more than a bank would usually be paid for assessing the adequacy of an offer, according to M&A bankers.

M&A advisers said the fee, for just one month's work, is more akin to a full financial advisory fee. Kingfisher, the UK do-it-yourself and electricals group chaired by Francis Mackay, is in the midst of a €5bn battle...